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Net Zero Company raises $5.5M to improve access to carbon removals

Net Zero Company, an impact company on a mission to make carbon removals more accessible, announces the completion of a $5.5 million seed round. The funding will be used to support global expansion and the launch of a new product suite, including the Carbon Removal Token, a real-world, asset-backed token.

Net Zero Company is led by CEO Håkan Nordkvist, who previously spent more than ten years as Head of Sustainability Innovation at IKEA Group, and is an advisor for University of Cambridge accelerator, The Canopy, and The Core Climate Fund. Advisor to Net Zero Company is Lord Ed Vaizey of Didcot.

The company was founded in 2022 by carbon market lawyer and expert, Dr. Peter Ebsen; Swedish entrepreneurs Anders Forsberg, one of the first partners in Wanda Group; Robin Stenman, who previously founded Tourn International, one of Europe’s fastest-growing IT companies; and serial tech founder, Robin Bäcklund, as well as forest equity veteran, Carl Johan Krigström. Net Zero Company has partnered with Microsoft and Metaco/Ripple to fuel their mission to revolutionise carbon removal solutions.

Håkan Nordkvist, CEO of Net Zero Company, comments: "There are no shortcuts to reach net zero; reducing emissions is crucial, but we must also innovate with new solutions. That's why we're committed to providing high-quality, nature-based carbon removals that are risk-free and easy to use. Our mission is to democratise access to carbon removals by leveraging blockchain technology to digitise carbon removal credits. With escalating emissions and rising temperatures fuelling environmental degradation, the need for effective carbon removal solutions has never been more urgent.”

Lord Vaizey of Didcot, Advisor at Net Zero Company, comments: “We need to systemically reevaluate how to mitigate the effects of global heating, and carbon credit systems are a practical solution that can be utilised by companies of all sizes. We have a collective responsibility to act, and the work that Net Zero Company does is an important step in the right direction.”

Net Zero Company’s introduction of its Carbon Removal Token (CRT) addresses the projected need for at least three billion tonnes of carbon removals by 2030. Leveraging blockchain technology, the CRT offers unprecedented accessibility, transparency, and traceability in the market for verified carbon credits.

Key features of the Carbon Removal Token include:

  • Security: Certified carbon removal projects ensure the integrity and protection of carbon removals, backed by a comprehensive replacement plan.
  • Transparency: Developed on the Ethereum blockchain, the CRT provides verifiable proof of environmental impact, enhancing credibility and accountability.
  • Traceability: Each CRT represents a tonne of sequestered carbon dioxide from diverse nature-based projects, with full traceability through blockchain technology.
  • Accessibility: Through the CRT, anyone, anywhere, can purchase carbon removals, climate action for accessible.
  • Lead investors in the seed round include Oilinvest, VARO Energy, and SilviCarbon.